USDT issuer Tether is celebrating its 10th anniversary. To celebrate the day, the company unveiled an upcoming documentary titled “Stability and Freedom in Chaos.” The film seeks to highlight the important role USDT has played in the financial lives of people living across countries now experiencing economic crisis and hyperinflation. It describes real-life stories from users in several countries: Brazil, Argentina, and Turkey, who use… USDT in their daily transactions
🎬Today marks 10 years since the launch of USD₮!
To celebrate, we will be releasing our documentary “Stability and Freedom in Chaos” soon.
Immerse yourself in Kev’s journey $USDT It has become a lifeline for millions, fighting inflation and fueling financial freedom around the world. 🌎🤝 pic.twitter.com/oviKmIgpgx— Tether (@Tether_to) October 6, 2024
A decade of influence
USDT has revolutionized the cryptocurrency landscape since its inception on October 6, 2014. Brock Pierce, Reeve Collins, and Craig Sellars initially introduced Realcoin; However, it immediately changed its name to Tether and became the most important stablecoin on a global scale.
Tether teases a documentary to celebrate USDT’s 10th anniversary
Tether, the issuer of the USDT stablecoin, has announced the upcoming release of a documentary titled “Stability and Freedom in Chaos” to celebrate USDT’s 10th anniversary, according to Crypto Summarying. this…
— Coinness Global (@CoinnessGL) October 6, 2024
Nowadays, USDT stands for The third largest cryptocurrency, After Ethereum and Bitcoin, with a market value of about $120 billion. The main attraction is the possibility of a dollar-pegged currency that should work stably in those places where local currencies are constantly depreciating.
For example, USDT makes up about 90% of daily transactions in Brazil, according to one user. The documentary trailer includes interviews with individuals discussing how they use USDT to manage their finances in the face of rising inflation rates. The film’s goal is to show the broader implications of USDT on financial inclusion and empowerment, as well as its practical applications.
Financial inclusion in high-inflation economies
The documentary preserved USDT as a lifeline for people still residing in economically distressed areas. Countries like Argentina and Turkey, where inflation can get out of control, have seen a lot of people using USDT to protect their money. Paolo Ardoino, CEO of Tether, noted that the organization has sought all along to offer financial tools to those shunned by traditional banking systems.
Today is the tenth anniversary of $USDT and @Tether_to ✨
Tether built its company on a simple mission: bring financial inclusion to billions of people, living primarily in developing countries, who can’t get bank accounts (because they don’t generate enough revenue… https://t.co/PdL6gGWDRv
– Paolo Ardoino 🤖🍐 (@paoloardoino) October 6, 2024
He noted that USDT is being used as a “digital dollar” by hundreds of millions of individuals around the world, with tens of millions of new wallets created on a quarterly basis.
Arduino’s vision is unambiguous: Tether’s goal is to empower communities and individuals overlooked by traditional financial institutions. As he said: “Our primary goal has always been the last mile.”
Symbol of stability
While Tether celebrates this achievement, it is also considering its participation in law enforcement initiatives to combat cryptocurrency-related criminal activities. Tether recently helped the US Department of Justice seize more than $6 million that was linked to fraudulent organizations. The company has partnered with more than 180 enforcement agencies worldwide to freeze USDT worth a total of more than $1.8 billion attributed to illicit activities.
Featured image from Protos, chart from TradingView